How BFX Helped First Ally Capital Increase Volumes by More Than 50%

THE CHALLENGE

First Ally Asset Management, a subsidiary of First Ally Capital Limited, is a growing Nigerian fund/portfolio manager. The Company is positioned to provide customized financial solutions using a variety of asset classes. Since their inception in 2014, they have been working towards providing innovative financial solutions to create opportunities and promote growth in the Nigerian market. One of the services they offer is helping their clients source foreign exchange through its sister company (First Ally Investments and Securities Limited) for international investments, in particular, Eurobond transactions. The biggest challenge that they faced prior to partnering with BFX was the lengthy transaction processing time of up to a week. This delay could affect the exchange rate and the interest rate that they had initially negotiated with their clients, causing them to pull out at the last minute if the rates became less favorable. Hence, they were seeking a company that could close their FX portfolio transactions in a timely manner at competitive rates. 

THE SOLUTION

With BFX, First Ally Asset Management can now process their Eurobond transactions in 24 hours, compared to the previous lead time of 1 week and are also able to transfer large volumes and confidently meet the demands of their clients. This has led to higher client retention. The BFX team is also very proactive with their service, and have been able to assist First Ally Asset Management at all times, enabling them to service their clients better.

RESULTS

First Ally Asset Management has been able to increase its volumes by more than 50% due to the quick delivery time offered by BFX. 

By reducing their foreign exchange transaction time to 24 hours, BFX has not only helped them retain and better service their clients but also earn referrals, expanding their portfolio.

About The Author

  • Zahra Waliji is the Content Manager at AZA, a provider of foreign exchange and international money transfer solutions. She specializes in marketing strategy, content creation and branding.

About The Author

Zahra Waliji

Zahra Waliji

Zahra Waliji is the Content Manager at AZA, a provider of foreign exchange and international money transfer solutions. She specializes in marketing strategy, content creation and branding.